What this scheme offers
PMMY provides loans through four categories matched to a business's stage: Shishu (up to ₹50,000) for those just starting out, Kishor (₹50,000 to ₹5 lakh), Tarun (₹5 lakh to ₹10 lakh), and Tarun Plus (₹10 lakh to ₹20 lakh) for repeat borrowers with a good repayment record on a prior Tarun loan. Loans are collateral-free and can cover working capital, term loans, or overdraft facilities.
Who is eligible
- Indian citizen with a viable business plan for a non-corporate, non-farm micro or small enterprise (manufacturing, trading, services, or agri-allied activity).
- Must not be a defaulter with any bank or financial institution, and should have a satisfactory credit history.
- Tarun Plus specifically requires a prior successful repayment track record on a Tarun-category loan.
Not eligible: companies with a corporate structure, and standard agricultural crop loans (these fall under schemes like PM-KISAN instead).
Documents required
- Identity and address proof (Aadhaar, PAN, Voter ID)
- Business proof / business plan
- Passport-size photographs
- Bank account statements
- Quotation for machinery or equipment, where applicable
How to apply
- Visit the Udyami Mitra portal (udyamimitra.in) or download the application form from mudra.org.in.
- Register with your name, email and mobile number, and verify via OTP.
- Complete your profile and fill in the loan application with your business details.
- Choose the loan category (Shishu, Kishor, Tarun or Tarun Plus) matching your funding need.
- Submit the form online, or at any participating bank branch, NBFC or MFI, along with your documents.
- Approval typically takes 7–15 working days depending on the lender.